10-month trade exceeds US$500 billion mark, trade surplus hits US$22.5 billion
VOV.VN - With the import-export value from January to mid-October reaching roughly US$523 billion, Vietnam racked up a balance of trade surplus of US$22.54 billion, according to the latest statistics released by the General Department of Vietnam Customs.
The reviewed period saw Vietnam export about US$272.74 billion worth of goods, down more than US$24 billion compared to the same period from last year, while imports totaled US$250.2 billion, marking a decline of nearly US$40 billion year on year.
Phone and components took the lead with US$41.47 billion throughout the reviewed period, followed by computers, electronic products and components, machinery, equipment, tools, spare parts, along with garments and textiles.
Most notably, fruit and vegetables witnessed the most impressive growth among key Vietnamese export commodity groups.
Specifically, the country raked in US$4.56 billion from fruit and vegetable exports, representing a sharp rise of 75.4% against the same period last year.
Dang Phuc Nguyen, secretary general of the Vietnam Fruit & Vegetables Association, predicts that fruit and vegetable exports will continue to enjoy robust growth ahead in the remaining two months of the year.
As the durian season in other countries in Southeast Asia is ending, the fruit in the Central Highlands, the main durian growing area in Vietnam, is yet to be harvested, opening up bright prospects for Vietnamese fruit and vegetable exports moving forward.
Meanwhile, experts say the global garment and textile demand is likely to decrease by between 8% and 10% this year, which will exert a strong impact on Vietnamese garment exports this year and during the initial months of next year.
According to the Vietnam Textile and Apparel Association (VITAS), the country’s textile and garment export turnover is estimated to be US$40 billion this year, down 10% compared to 2022.
However, the industry’s import and export activities are showing positive signs and will likely rebound as an increasing number of foreign partners from Europe, Northeast Asia, and Southeast Asia have recently come to Vietnam to gain insights into garment products.
In addition, garment and textile exports to the US and EU markets have also recovered, say industry insiders.
